S

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0289%/8h= −31.6% APRnext payment −$0.36 per $10,000 · paid last 24h −0.077%

Price spread now: GMX against Hyperliquid+0.222%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. GMX is 0.222% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.222% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid S	0.03916	0.0100	pay 0.0013% / 1h	30m 34s	$983K	$757K	5x
Short	GMX S/USD [WBTC.b-USDC]	0.03925	L −0.0195% / S +0.0189%	pay 0.0024% / 1h	30m 34s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee GMXbpOrdersPrice spread, now +0.222%Rate

Funding earned: −$60.63
Price spread: +0.222% → 0.000%: $22.22
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$59.41
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 10 min ago; GMX: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 10 min ago	3.68 bp	20.3 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

S on 25 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SUSD	−0.1595%	1h	0.03918	+0.068%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.293%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0880%	4h	0.03922	+0.160%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]short	L −0.0195% / S +0.0189%	1h	0.03925	+0.222%	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.03913	−0.084%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03924	+0.220%	$605	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03921	+0.133%	$100K	$345K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.704%	$2K	$37K	12x	as long as short
Aster SUSDT	+0.0089%	4h	0.03918	+0.057%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03920	+0.107%	$164K	$223K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid Slong	+0.0100%	1h	0.03916	long leg	$983K	$757K	5x
Binance SUSDT	+0.0100%	4h	0.03914	−0.046%	$5.3M	$19.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03908	−0.199%	$5.6M	$5.7M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03915	−0.020%	$975K	$6.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03921	+0.133%	$320K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03915	−0.020%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03914	−0.046%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03919	+0.082%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03919	+0.082%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	+0.363%	$25K	$464K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03913	−0.070%	$221K	$881K	10x	as long as short
01 Exchange SUSD	+0.0136%	1h	0.03910	−0.148%	$24K	$2K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03921	+0.133%	$267K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0354%	1h	0.03930	+0.363%	$114K	$300K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0515%	1h	0.03926	+0.260%	$66K	$10K	10x	as long as short